Qantas Group | Climate Fund

Airline Sustainability Fund

Overview of Qantas Climate Fund

Qantas Climate Fund: Leading the Charge in Aviation Sustainability

The Qantas Climate Fund represents a pioneering initiative by Qantas Group, Australia's national carrier, to address the unique challenges of achieving net-zero emissions in the aviation sector. With a commitment of AUD$400 million, the Fund is poised to be the largest of its kind in the aviation industry, focusing on developing and scaling solutions essential for the airline's sustainability targets.

Strategic Vision: Qantas recognizes its crucial role in safeguarding the future of travel. The Fund is an integral part of the Group's strategy to build a robust, ethical, and sustainable business, aligning with the commitments outlined in the Qantas Climate Action Plan.

Investment Priorities: The Qantas Climate Fund's investment priorities are closely tied to its ambition and targets, focusing on:

1. Sustainable Aviation Fuel (SAF): Catalyzing SAF supply and securing access at key ports.

2. Nature-Based Solutions: Accessing high-integrity carbon offsets with additional benefits.

3. Carbon Removal Technology: Advancing mechanical carbon removal solutions.

4. Operational Efficiency and Waste: Enhancing progress against efficiency and waste reduction targets.

Investment and Partnership Approach: The Fund aims to catalyze and scale solutions within its investment priorities through:

• Direct investments in technologies and projects.

• Investments in managed funds linked to the airline's targets.

• Research and development partnerships.

Qantas is also leveraging partnerships, such as the Qantas-Airbus Australian Sustainable Aviation Fuel Partnership, to amplify the impact of these solutions.

Global Call for Innovation: Qantas is actively seeking innovative technology, project, and partnership opportunities that align with the Fund's mandate. The Group encourages industry and businesses to express their interest in contributing to this transformative journey.

Sustainability Commitments: Qantas has set ambitious targets, including a 25% reduction in carbon emissions by 2030 (from 2019 levels) and incorporating 10% SAF in its fuel mix by 2030, progressing towards net-zero emissions by 2050. The airline's commitment extends to purchasing SAF sourced overseas and advocating for a SAF blending mandate in Australia to kickstart local production.

Leadership and Progress: Under the guidance of Qantas Group Chief Sustainability Officer Andrew Parker, the airline is integrating climate change management into its core business strategy. This includes linking executive remuneration to climate targets from FY23 and forming coalitions with corporate customers to reduce emissions through SAF.

Fleet Renewal and Customer Engagement: Qantas is undergoing a major fleet renewal program to enhance fuel efficiency. Additionally, the airline offers a Fly Carbon Neutral program and launched a Green Tier for frequent flyers, encouraging customers to reduce their environmental footprint.

Broader Environmental Goals: Beyond emission reduction, Qantas is committed to eliminating single-use plastics by 2027 and achieving zero general waste to landfill by 2030.

*Last update: November 2023